US Authorizes New Sanctions On Russia
US President Joe Biden announced on Thursday a slew of new sanctions intended to damage Russia’s economy and cut it off from the world economy. Biden said that new sanctions would “impose a severe cost on the Russian economy” and had been optimized “maximize a long-term impact on Russia.
”The sanctions are intended to harm Russia’s tech sector, including cutting off more than half its tech imports, as well as its space program. He announced four more Russian banks that hold more than $1 trillion in assets would be sanctioned and their assets in the United States frozen, and that Russian “elites” and their families would be sanctioned as well.
Biden reiterated that US forces would not fight in Ukraine, but was deploying more US forces to NATO and that NATO was committed to its collective defense. He also said the US was prepared to respond to any Russian cyber attacks. The US president also said he would release petroleum from the US’ strategic reserve to counteract the effects on oil markets by the sanctions. FURTHER DETAILS AWAITED.